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What is Viewing Matrix Method in Cost Control about?
Cost control involves monitoring expenditures against budgets to measure variance and allow for corrective action. Methods include Earned Value Management (EVM), comparing planned to actual performance, S-curves, and indicators. Variance is analyzed using graphs like waterfalls and radars to identify responsible areas. Forecasting estimates future conditions using available information, with methods including EVM, new estimates, planned values, expert opinion, and mathematics like averaging past performance
- Author
- heyhey
- Language
- EN